The exports of oilmeals have declined by 94% to 7,737 tonnes in May, due to lower availability of oilseeds and higher prices in the domestic market. The country had exported 121,000 tonnes of oil meal in the same period last year.
As per report compiled by industry body Solvent Extractors’ Association (SEA), the overall export of oilmeals during April-May 2016 is reported at 97,779 tonnes compared to 3,03,977 tonnes during the same period of last year, down by 68% due to lesser availability of oilseeds for crushing and continuous disparity in exporting oilmeals in the international market.
South Korea, Iran and Thailand are the major importers of oilmeal from India. Oilmeal export to South Korea has declined by 74% to 47,202 tonnes in the first two months of the current financial year from 1.79 lakh tonnes in the year ago period.